Top 10 Things You’ll Want to Know Before Buying a Vacation Home on Lake Nacimiento

Each year people look to Lake Nacimiento when considering buying a vacation home, and for good reason!  Vacationing on Lake Nacimiento is an ideal choice whether you spend the entire summer soaking up the scenic views and endless fun, or you enjoy taking weekend getaways to find ultimate relaxation.  As a Lake Nacimiento Real Estate agent; I’ve seen a variety of reasons why people choose to settle into the Oak Shores or Heritage Ranch communities on Lake Nacimiento.

Although we find our nation still in the recovery process from the hardships over the past few years; there are those who consider buying a second home as a way of investing.  There’s no doubt that buying a vacation home on Lake Nacimiento will prove to be a lucrative financial decision; especially if you are planning to purchase with the hopes of holding onto the home for years to come.  There are, however, ten things to consider before jumping into buying a second home.

1. Resist the urge to impulse buy
– You may have visited friends or family who own a home on Lake Nacimiento, or you happened upon it for a weekend getaway.  While I completely understand that it’s easy to fall in love with life on Lake Nacimiento instantly; you don’t want to come back from your vacation with keys to a new home!  If you have been considering buying a vacation home; be sure to do thorough research before buying.  Buying on impulse can lead to major financial struggles.

2.  Get to know the area before buying
– Although you may have vacationed on Lake Nacimiento a time or two; you’ll want to make sure you know all you can about the area and lifestyle.  Before buying, try visiting Lake Nacimiento in the winter when life tends to slow down a bit to ensure you’ll be happy with your purchase all year long.

3. Hire a local real estate agent– Working with a Lake Nacimiento Real Estate agent will make the home buying process run much more smoothly.  As a Lake Nacimiento Real Estate agent; I’ve worked with buyers and sellers for years and can help you determine which home is right for you.  I also know the ins and outs of how sellers on Lake Nacimiento think and can help you get the best deal for your Oak Shores or Heritage Ranch home.  I’ll also be able to answer any questions you may have about the area!

4. Evaluate your needs and long-term goals
– Set realistic goals for the type of home you want as a vacation home.  Do you need a lot of space for family or friends; or is a more private getaway for you?  Being realistic about the size of the home and what you want to do with the property long term will play a large role in the home buying process.

5. Decide what type of home is right for you– While living right on the Lake Nacimiento waterfront may offer scenic views; there may be more maintenance involved.  Think through the type of home you want and how much maintenance and upkeep you want to take on.  Is a smaller lot appealing because you won’t have to mow a large yard?  Or, do you want a great yard that offers opportunities for gardening?  Determining the type of home and its setting will ensure you’re happy with your decision for years to come.

6.  Shop around for a mortgage– To make sure you’re getting the best possible deal; you’ll want to shop around for a lender.  The market is constantly changing, so make sure you’re up to speed on the current mortgage rates.  Your Lake Nacimiento Real Estate agent can also help answer any questions you may have about a home mortgage.

7.  Calculate additional expenses
– Additional expenses of a home may not be at the forefront of your mind when looking at the beautiful homes on Lake Nacimiento, but they can play a large role in your monthly payment.  Don’t forget about insurance, maintenance, HOA fees and even utilities.  Make sure to think through these extras even on a home that is a great deal!

8.  Consider fractional ownership to cut down on costsBuying a home on Lake Nacimiento is a great choice, but you want to consider the amount of time you’ll end up spending at your vacation home.  If you only spend a few weekends a year on Lake Nacimiento; is it worth buying the home or would you be better off renting?  A great option is if you choose fractional ownership in gathering friends or family to pool together to buy the home.  This option is ideal for cutting down on costs and allows more people to share in the joy of vacationing on Lake Nacimiento!

9.  Look into tax benefits– You don’t have to pay taxes on rental income if you rent out your Lake Nacimiento home for fewer than 15 days a year, but you can’t deduct any rental expenses. You’ll have to report the income if you choose to rent out your Oak Shores or Heritage Ranch home for more than 15 days a year.  However, you’ll be able to deduct certain expenses such as maintenance and cleaning.

10.  Rent your home out for extra income– If you know the only way you’ll be able to afford a Lake Nacimiento vacation home is through renting it out; this can be another great option!  You’ll want to consider all that goes along with being a landlord and make sure you’re up for the additional responsibilities.  Getting to know tenant/landlord laws and the Fair Housing Act before renting out your home is key.  Choosing this option for your home can become very lucrative and will prove to be a wise investment; while still allowing you to enjoy your home when you’re done renting.

If you have any questions about buying a vacation home on Lake Nacimiento; I would be happy to answer them!  My experience as a Lake Nacimiento Real Estate agent will ensure you find the home that fits your needs and lifestyle for the right price!  Please feel free to contact me today; I look forward to hearing from you!

Grace Borzini
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty

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